PEPE Whales Buy 1.56 Trillion Tokens, Sparking 13% Rally in Meme Coin
PEPE whales have been buying the meme coin, leading to a 13% rally in the past 24 hours. After a month of consolidation, the meme coin experienced a sharp decline, along with Bitcoin and Ethereum. However, the asset has since observed a sharp surge, potentially finding its bottom. Two whales have made sizeable purchases of PEPE using Ethereum, with one investor making a profit of over 9%.
Ethereum Expansion Project AltLayer Has Deployed More Than 100,000 Flash Layers
Ethereum scaling project AltLayer has announced that more than 100,000 Flash Layers have been deployed as part of Altitude Phase 3. Previously, AltLayer partnered with EigenLayer to enable restaking users to launch Flash Layers in minutes.
Fabian Vogelsteller, Creator of ERC-20 Standard, Launches Mainnet for New Blockchain Lukso
Fabian Vogelsteller, the co-founder of Ethereum and creator of the ERC-20 standard for smart contracts, left the company in 2018 to focus on developing Lukso, a new blockchain for fashion and lifestyle. In a recent interview, he discussed the success of Lukso's reversible ICO, which allowed investors to receive refunds if they changed their minds about the project.
Bitcoin Holds Steady Despite US Federal Reserve's Interest Rate Hike
Following the United States Federal Reserve's decision to raise interest rates to a 22-year high, Bitcoin experienced a minimal 0.1% 24-hour increase and was trading at $29,304. Ethereum, the second largest cryptocurrency, remained stable and was priced at $1,859. The Federal Reserve raised its benchmark interest rate by a quarter of a percentage point and emphasized the importance of continuing the fight against inflation until it drops to 2%.
Web3 Application Development Platform Mirror Announces Support for Ethereum Layer 2 Protocol zkSync
Web3 application development platform Mirror announces support for Ethereum Layer 2 protocol zkSync
Ethereum's Layer-2 Ecosystems: Optimistic Rollups Dominate with Nearly 30 Networks Deployed
The number of layer-2 (L2) networks on Ethereum is increasing, with almost 30 different networks deployed to date. These second-layer protocols aim to scale the network by moving some computational processes off Ethereum, resulting in cheaper and faster transactions for users. L2 networks have become economies of their own, collecting billions of dollars worth of digital assets in locked-up deposits.
Institutional Investors Show Cooling Interest in Bitcoin, but Ethereum and XRP See Inflows: CoinShares Report
Last week saw a total outflow of $6.5 million from crypto funds, marking a reversal in trend after four weeks of heavy inflows. However, this is still minor compared to the $742 million of inflows from the previous four weeks, indicating continued interest in the space. Bitcoin remains the primary focus for institutional investors, but a recent report suggests that they may be cooling off their interest in the cryptocurrency.
XRP Loses Momentum as Institutional Inflows Remain Lackluster, Ethereum Under Pressure, and Worldcoin Faces Challenge to Sustain Momentum
XRP's post-SEC lawsuit gains have been halved and its momentum is slowing down due to the lack of institutional-grade inflows into the cryptocurrency market. Retail investors were the driving force behind XRP's surge in price after the legal victory, but their involvement may not be enough to sustain a long-term uptrend. Institutional investors are needed to bring substantial funds and credibility to the cryptocurrency market.
EraLend's TVL plummeted after being Attacked, with a Single-day drop of up to $7.76 Million
DeFiLlama data shows that the total value locked (TVL) of EraLend, a lending protocol in the zkSync ecosystem, dropped from $18.51 million to $10.75 million after being attacked today, with a one-day plummet of $7.76 million.
Exchange.art to Integrate Ethereum Support and Expand Multichain Platform
Exchange.art, a digital art marketplace on Solana, will soon integrate support for Ethereum, allowing over 80 Ethereum-based artists to sell their work on the platform. The integration will go live on August 1st. Exchange.art aims to be a hub for digital art and expand beyond Solana, with plans to onboard new creators and collectors. The platform has already onboarded 16,000 Solana-based artists and introduced a royalties protection standard to help creators earn a consistent percentage across marketplaces.
